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Send message to stephmcannon
Sub: #1 HELLLPPPP
Replied on 10-28-2008, 04:22 PM
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I happened on the site quite by accident but am thrilled that I did....it seems like I am not the only one with PDL problems....Can anyone help?? I live in Alaska and the companies I am dealing with are
GRC $375.00 have paid $450.00
NLS $375.00 have paid $528.00
Cash supply $500.00 have paid $315.00

it seems like a vicious circle that I can't stop...


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Send message to phoenix
Sub: #2
Replied on 10-28-2008, 10:15 PM
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According to internet payday loan laws in Alaska, the concerned company needs to be licensed in Alaska. I'm not sure about GRC and NLS but Cash Supply is not legal in your state. Thus you can only pay the principal amount to Cash Supply.

For licensed internet pdls and storefronts you have to abide by the state laws: -
Quote:
Legal Status: Legal

Citation:
Alaska Statute 06.50.100 et seq.

Loan Terms:
Maximum Loan Amount: $500
Loan Term: Min: 14 days
Maximum Finance Rate and Fees: $5 + the lesser of $15 per $100 or 15%
Finance Charge for 14-day $100 loan: $20
apr for 14-day $100 loan: 520%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: Not Specified
Rollovers Permitted: Two (renewals)
Cooling-off Period:
Repayment Plan: Yes

Collection Limits:
Collection Fees: $30 NSF fee; Court costs of up to $700 over the amount of the payment (if disclosed in loan agreement)
Criminal Action: Prohibited (Unless check returned due to closed account)

Where to Complain, Get Information:
Regulator: Alaska Division of Banking and Securities
Address: P.O. Box 110807 Juneau AK 99811
Phone: (88 925-2521
Fax: (907) 465-2549
Regulatory Contact: Patrice Walsh,, Financial Institution Examiner





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